As partnering talks continue for its most important, latest stage asset - a Phase II anti-cancer drug - MediGene has bought itself some breathing room with an option to sell up to 25 million Euros (about $35 million) worth of equity to the Yorkville Group's YA Global Investments.
Continue reading "MediGene’s ‘Airbag’ Equity Deal Provides EndoTAG-1 Partnering Flexibility " »
LONDON - Regenerative medicine group Intercytex announced Dec. 22 it would purchase privately-held UK company Axordia in an all-share deal worth £1.68 million ($2.48 million). The money was admittedly small, but this style of transaction - in which Intercytex issued 7,000,000 new ordinary shares at 1p each to Axordia's shareholders - illustrates that in today's environment dilution is preferable to relinquishing any cash at all.
Continue reading "UK's Intercytex Buys Stem Cell Group Axordia" »
As Big Pharmas continue to have more negotiating leverage, there's a clear preference for tightly structured alliances rather than outright biotech purchases. In that vein, Pfizer has agreed to pay Auxilium $75 million upfront for the European rights to Xiaflex, a biological enzyme in Phase III for Dupuytren's contracture and Phase IIb for Peyronie's disease.
Continue reading "Pfizer And Auxilium Set Partnership For European Rights To Xiaflex" »
Shares in France's largest biotech, NicOx, received a small boost after the company on Dec. 17 reported positive blood pressure data for Phase III-hopeful naproxcinod.
Continue reading "NicOx Data Positive, But Is it Enough?" »
LONDON - At last, some good news for cash-strapped biopharmaceutical firms. Denmark's Novo A/S plans to invest as much as $200 million annually in later-stage and commercially focused life-sciences companies, supplementing existing venture capital and seed-stage financing.
Continue reading "New Funding Source For Cash-Strapped BioPharma" »